| 3322 Stock | | | TWD 18.20 0.45 2.54% |
The current 90-days correlation between Joinsoon Electronics MFG and IEI Integration Corp is 0.59 (i.e., Very weak diversification). The correlation of Joinsoon Electronics is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Joinsoon Electronics Correlation With Market
Significant diversification
The correlation between Joinsoon Electronics MFG and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Joinsoon Electronics MFG and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Joinsoon Electronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Joinsoon Electronics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Joinsoon Electronics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Joinsoon Electronics MFG to buy it.
Moving together with Joinsoon Stock
Moving against Joinsoon Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Joinsoon Stock performing well and Joinsoon Electronics Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Joinsoon Electronics' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Be your own money manager
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